The media – or some of it – is promoting the narrative that the federal government is Musk’s silent partner in the Twitter purchase.
The immediate impression upon hearing that may be that Musk received a special break, perhaps a low cost loan or special credit.
Listen closely and you will find what they are talking about is the Internal Revenue Code that applies to every American. What they are talking about is the fact that the appreciation on Musk’s stock holdings are not taxed until the stock is sold and actual income received.
Does it logically matter whether your unrealized gain is $10,000, $100,000 or $1,000,000 or more? In my opinion it doesn’t. Where is does matter is in the strategy of politicians and their media friends trying to create envy and division based on wealth while ignoring the benefits to society created by many of the targets of their attacks.
Those who seek to sow division and anger may be doing so to advance their own agenda, but at the expense of weakening the long term health of our democracy. It is our responsibility to educate ourselves about these matters so that we can more reliably distinguish honest facts from hogwash spread by certain people.
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Good point, but sadly few too many people will not make the effort.
Just heard Musk paid $11 BILLION in taxes last year. Tell me again how he is getting special breaks from Uncle Sam?